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Alavard N. is from the village of Gharibjanyan in the Shirak region of Armenia. She is married with three children. Alavard’s three sons are twenty, twenty three and twenty four years old. She has a high school education and has been working as a farmer, growing vegetables and raising cattle for the past twenty two years.

She dreams of saving enough money to help her sons build their own homes. She currently supports her son, who is serving in the army, and provides agricultural produce to relatives living in the city. She is looking for a loan to purchase seeds, fertilizer and feed. With this investment she is expecting the family income to increase by twenty percent. She likes the convenience of microfinance loans and is pleased with the services. By growing her business she can continue living in Gharibjanyan, the place of her birth.

Additional Information

About AREGAK Universal Credit Organization

In 1997, United Methodist Committee on Relief (UMCOR) established the AREGAK microfinance program with the aim of creating economic opportunities for low-income people who lack or have limited access to formal financial services, especially in remote rural areas. The microfinance program rapidly became one of the largest microfinance institutions in Armenia in terms of the number of active clients and portfolio size.

In 2006, AREGAK UCO was registered as a universal credit organization structured as a closed joint stock company with UMCOR as the sole shareholder.

Today, AREGAK UCO provides a broad range of financial services to the population without compromising the social aspects of its mission. It continues pursuing initiatives geared toward the fulfillment of its ethical principles. To learn more about AREGAK UCO, visit its Kiva Field Partner page.

About Armenia

  • $6,300
    Average annual income
  • 141
    View loans »
    Armenia Loans Fundraising
  • $15,799,025
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Alvard to purchase seeds, fertilizer and feed.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Nov 29, 2010
Dec 27, 2010
Currency Exchange Loss:
Jul 15, 2012